How to open a bank account in Spain as a foreigner

Opening a bank account in Spain as a foreigner is worth it, no matter the challenge. Once you have it, you’ll become one step closer to becoming a local. Plus, you’ll be able to flex it among your friends. So, explore this article and learn how to open a bank account in Spain as a foreigner.

Why bother?

If one’s card is accepted in Europe, they often underestimate how important it is to open a bank account in Spain. While there are plenty of reasons:

• Saving money on fees. Have you ever travelled and wondered where all the money went? Part of it disappeared in extra fees and conversion rates. That’s why savvy people search for a bank account in Spain for tourists and expats.
• More opportunities. Opening a bank account in Spain as a foreigner will allow you to pay everywhere in Europe, use ATMs freely and much more.
• Receiving salary and scholarships. Not every institution or company accepts accounts from other countries, so for students and workers, it’s necessary to open a bank account in Spain.
• International money transfers from Spain. If you earn in this hot and bright European country, sending money back home is probably part of your routine. You can do it fast and beneficially with a local account and the Profee app. Send from your home, office, or even a camping site—and enjoy low fees and unmatched exchange rates every time.

Read more: How to avoid transfer scams

Types of bank accounts in Spain

Let’s get to the point and start exploring how to open a bank account in Spain as a foreigner. First and foremost, understand which type you need.

You may also see ads and websites saying “Open a non-resident Spanish bank account online!” Explaining what it is.

• The non-resident option is for those who live abroad but want to run a business, buy property or occasionally visit Spain. For example, open it, if you’d like to buy a coastal house for summer vacations.
• The resident account is for expats planning to stay in Spain for quite a while.

Quick tip: How to open a non-resident Spanish bank account online

• Go to a bank’s website.
• Fill in the short form.
• Attach the documents.
• Confirm your identity.
• Accept the terms and conditions.
• Enjoy!

What do you need to open a bank account in Spain

Each bank has its own rules. Even the offices of one bank may have different requirements! It’ll depend on the manager mostly. However, there are documents for a bank account in Spain that you should certainly prepare.

For a resident account

• ID or passport.
• Document confirming your address in Spain — utility bills or contract.
• Student card if you’re enrolled in a university programme;
• Proof of employment;
• Número de Identificación de Extranjero. Learn how to get your NIE and what it is here.

For a non-resident bank account in Spain

• Your passport or national ID.
• A non-resident certificate – a quick paper that says you don’t live in Spain (yet!).
• Proof of where you live.
• Something that shows you earn money – payslips, a work contract, or a bank statement.
• Your tax ID from back home – every country calls it something different, but you’ll know it when you see it.

Again, it all varies. Presenting a passport is enough for some banks, but the account capabilities may be limited. If you’re unsure what you need to open a bank account in Spain, contact your preferred institution directly.

Explore: Moving from Kenya to Spain

The best Spanish banks for foreigners

You’ve chosen the account type and have all the documents ready. Next step in our guide on how to open a bank account in Spain as a foreigner is picking a bank. Check the list of some of the best Spanish banks for foreigners.

Traditional Spanish banks for foreigners are secure and reliable. Their customer support and office managers will always answer your questions and explain how to open a bank account in Spain as a foreigner. If you prefer speaking to someone in person or feel more comfortable at a physical branch, these banks are a solid option. However, in some situations, online banking is the only go-to choice. Maybe you’re still abroad or just want something faster and easier. You can obtain an account quickly with Revolut, Wise or N26; these are some of the most popular online Spanish banks for foreigners.They don’t require much paperwork, and you can sign up in just a few taps on your phone.

Fees in the Spanish banks for foreigners

Banks want to charge you fees whenever possible—for withdrawing or depositing money, sending funds abroad or keeping the account active. And they usually don’t show it on the main page, so read your contract. Even the best Spanish banks for foreigners may hide something important in these long and tedious documents.

It would be impossible to cover all the fees in this article, so let’s concentrate on the most basic one—for keeping the acc active.

• Basic online options. Usually, it doesn't cost you anything until you reach card limits.
• Current accounts. Start from 0 EUR and may reach 160 EUR a month. For example, Santander requests 20 EUR, but if you receive a salary on this account and make payments frequently, it may be reduced to 0 EUR.

In terms of cost-efficiency, online options seem to be the best bank accounts in Spain for expats. At least, you can just have it in case of an emergency.

How long will it take

The best bank accounts in Spain for expats are quick to open.

Preparation is the most time-consuming part. Collecting all the documents may take a while, so bring some cash with you, when moving to Spain.

IBAN in Spain

Your IBAN is like your account’s name tag — it tells others exactly where to send money. You’ll need it whenever funds are moving from one bank account to another – for example, if you are transferring money via SEPA.

Your IBAN in Spain is created for you automatically. No need to request it — it’ll be right there, ready to use. You may find it in your bank statement, on your card or in your banking app – address the bank’s support for more details.

Tips for opening a bank account in Spain as a foreigner

Ask expats about their experience

Go to the chats or local communities and ask how to open a bank account in Spain as a foreigner there. Others may tell you what you need to open a bank account in Spain and share the friendliest branches or contacts of managers who speak English.

Decide on your account type in advance

We would say the current type is the best bank account in Spain for expats because it’s suitable for daily use. However, pick an account based on your needs and check its requirements beforehand. Always be prepared.

Bring multiple proof-of-address documents

Some banks are stricter than others. If you bring two proofs, you’ll be better prepared in case one is rejected. Make sure they’re recent (within 3 months) and show your name clearly.

Expect paperwork in Spanish

Even if the staff will communicate with you in English, most forms and agreements will be in Spanish. Some expats advise inviting a translator or anyone who knows Spanish and can help — or at least use a translation app. Opening a bank account in Spain as a foreigner is a little bit challenging, we know.

Short recap

In this article, we explored how to open a bank account in Spain as a foreigner. Start with preparing documents and searching for what you need to open a bank account in Spain. Then, pick a bank and visit an office or download their app. Pay some fees (maybe!), and you’re good to go. After that, you’ll be able to pay for groceries, restaurant and utility bills, send money abroad with Profee and feel like you’ve been living in Spain forever. If you’re outside of the country, you can open a non-resident account online.